OPTI Canada Inc. News

Loading the latest news for OPTI Canada Inc.

1. 4/4/2012 4:06:00 PM 2011 Net Profit Hit Another Record High
   published by China Weekly News
   CNOOC Limited announced its annual results for the 12 months ended December 31, 2011. In 2011, the Company's average realized oil price amounted to US $109.75 per barrel and its average realized natural gas price reached US $5.15 per thousand cubic feet, representing an increase of 40.8% and 14.7% year-over-year, respectively. Within the year, the Company...
   
2. 4/4/2012 4:00:00 PM 2011 Net Profit Hit Another Record High
   published by China Business Newsweekly
   CNOOC Limited announced its annual results for the 12 months ended December 31, 2011. In 2011, the Company's average realized oil price amounted to US $109.75 per barrel and its average realized natural gas price reached US $5.15 per thousand cubic feet, representing an increase of 40.8% and 14.7% year-over-year, respectively. Within the year, the Company...
   
3. 3/28/2012 5:03:00 AM 2011 Net Profit Hit Another Record High
   published by PR Newswire US
   CNOOC Limited today announced its annual results for the 12 months ended December 31, 2011. In 2011, the Company's average realized oil price amounted to US $109.75 per barrel and its average realized natural gas price reached US $5.15 per thousand cubic feet, representing an increase of 40.8% and 14.7% year-over-year, respectively. Within the year, the...
   
4. 3/5/2012 12:01:00 AM Update On Foreign Investment Review In Canada
   published by Mondaq Business Briefing
   Fraser Milner Casgrain LLP Update On Foreign Investment Review In Canada 05 March 2012. This article highlights significant developments in foreign investment review in Canada over the past year. CNOOC acquired OPTI's 35 percent working interest in Long Lake and three other project areas located in the Athabasca region of northeastern Alberta.
   
5. 2/16/2012 7:44:00 AM Nexen sees net income of $43 million in fourth quarter
   published by Canadian Press DataFile
   CALGARY _ Nexen Inc. saw its profit cut by nearly 75 per cent in the latest quarter as the big international oil and gas producer booked charges on its books for future oilsands projects and low natural gas prices. Calgary- based Nexen reported early Thursday it logged net income of $43 million, or eight cents per share, in the three months ended Dec. 31.
   
6. 2/12/2012 9:28:00 PM Analysis: Chinese oil majors set foot on Canada oil exploration despite high-cos
   published by Xinhua News Agency (CEIS) (China)
   BEIJING, Feb. 13– The National Development and Reform Commission, China's top economic planner, has approved several oil and gas exploration deals for Chinese oil majors to explore energy sector in Canada when Canadian Prime Minster Stephen Harper conducted his five-day visit to China last week. Stephen Harper started his visit to China on February 5 2012 with...
   
7. 2/10/2012 9:25:00 AM NDRC verifies CNOOC's takeover of Canadian Opti
   published by Xinhua News Agency (CEIS) (China)
   BEIJING, Feb. 10-- China's National Development and Reform Commission announced on Friday that it has verified takeover of Opti Canada Inc. by CNOOC Ltd., a subsidiary of the China National Offshore Oil Corp..
   
8. 2/4/2012 12:00:00 AM Asia's energy growing pains
   published by National Post
   Asias energy growing pains National Post Thanks to acquisitions in the past few months the three top state controlled Chinese oil companies have become full participants in the Canadian oil and gas scene and are in control of projects in a Western industrialized economy for the first timeBut being in control doesnt guarantee success Now that they are in charge of their Canadian operations Chinese players are facing the same hurdles as other foreign acquirers to make them work plus a few more due to cultural differencesThey are still on a learning curve The jury is out on how they are going to manage those companies said Gordon Houlden a former senior Canadian diplomat in China who is the director of the China Institute at the University of AlbertaAfter years of warm up through investments joint ventures and partnerships with local operators Chinese players made the leap to full ownership starting last July when China National Offshore Oil Corporation CNOOC acquired 100 of insolvent oil sands developer Opti Canada Inc for 21 billionMeanwhile Sunshine Oil Sands Corp was expected to become the first oil sands company to become publicly traded in Hong Kong this month a year after introducing a group of strategic investors including China Life Insurance Overseas Co and the Bank of China However according to reports Friday the IPO was cancelledAll this is happening with federal government encouragement and approval one of the reasons Prime Minister Stephen Harpers visit next week is being enthusiastically anticipated in China said Adam Waterous vice chairman and global head of investment banking at Scotia Capital who was visiting Beijing this weekWith the US rejecting a permit for the Keystone XL pipeline from Alberta to Texas and unable to absorb further Canadian natural gas amid its abundant domestic supplies the Harper government has set aside previous worries about Chinese ownership of Canadian resources and is cultivating China as a new market for Canadian energy exportsAt the same time Chinese interest in Canadian oil and gas has accelerated since the Keystone XL decision because there is widespread recognition that Canada needs to diversify its market Mr Waterous saidYet the strategy relies on many pieces falling into placeOne of them is new infrastructure to allow oil and gas to flow to Asia While Chinese companies are okay with selling their oil and gas to the North American market for now over the longer term they want to export across the PacificContinuing opposition to the proposed Northern Gateway pipeline from Alberta to the West Coast is standing in the way of those plans and could influence future investment decisions by the Chinese and other oil sands operatorsThe pipeline could be a sticking point for the Prime Minister next week said Pau Woo president of the Vancouver based Asia Pacific Foundation of CanadaMy view on how energy will play in this visit is the Prime Minister will want to underscore the importance of diversification particularly to Asian markets and China specifically but that there is very little the Chinese can do to help the Prime Minister in his diversification aspirations in the sense that the major stumbling block currently to exports of oil to Asia is a domestic problem its nothing to do with the Chinese Mr Woo saidThe pipeline issue has to be resolvedOver the shorter term the Chinese companies biggest challenge will be to hire and retain staff in AlbertaAmericans found this out the hard way a decade ago when they acquired big chunks of Canadian natural gas reserves only to find they.